Note 7 - Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

(7) Stockholders’ Equity

(a) 2013 Transactions

During the year ended December 31, 2013, the Company issued approximately 2.2 million shares of common stock to settle stock options exercised during the year.

During the year ended December 31, 2013, the Company issued approximately 60,000 shares of common stock to settle warrants exercised during the period.

During the year ended December 31, 2013, the Company issued approximately 231,000 shares of restricted stock with a fair value of $3.2 million to certain officers and employees for services to be provided during the next three years. The Company is recording the expense related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2013, the Company issued approximately 37,000 shares of common stock to settle vested restricted stock units granted in early 2013 as compensation to certain employees for services provided in the year ended December 31, 2012. The Company recorded the expense related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2013, the Company issued approximately 2,000 shares of common stock to settle vested restricted stock units granted in a prior year to an outside consultant as compensation for services to be provided during the year.  The Company recorded the expense related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2013, the Company issued approximately 20,000 shares of restricted stock with an estimated fair value of $485,000 to the members of the Board of Directors as compensation for services to be provided in the upcoming year.  The Company recorded the expense related to these awards in SGA expenses over the one-year service period.

(b) 2014 Transactions

During the year ended December 31, 2014, the Company issued approximately 2.8 million shares of common stock to settle stock options exercised during the year.

During the year ended December 31, 2014, the Company issued approximately 204,000 shares of common stock to settle warrants exercised during the period.

During the year ended December 31, 2014, the Company issued approximately 98,000 shares of restricted stock with a fair value of $3.0 million to certain officers and employees for services to be provided during the next three years. The Company is recording the expense related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2014, the Company issued approximately 16,000 shares of restricted stock with a fair value of $555,000 to members of the Board of Directors as compensation for services to be provided during the next year. The Company recorded the expenses related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2014, the Company issued approximately 238,000 shares of common stock to settle vested restricted stock units whose restrictions were lifted during the year. The Company recorded the expense related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2014, the Company issued approximately 83,000 shares of restricted stock to certain officers and employees in settlement of its 2013 incentive compensation plan liability. The restriction on 50% of these shares was lifted on June 1, 2014 and the remaining restriction was lifted on June 1, 2015. The Company recorded the expenses related to these awards in SGA expenses over the requisiteservice period. 

(c) 2015 Transactions

During the year ended December 31, 2015, the Company issued approximately 1.2 million shares of common stock to settle stock options exercised during the year.

During the year ended December 31, 2015, the Company issued approximately 20,000 shares of common stock to settle warrants exercised during the period.

During the year ended December 31, 2015, the Company issued approximately 91,000 shares of restricted stock with a fair value of $3.7 million to certain officers and employees for services to be provided during the next three years. The Company is recording the expense related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2015, the Company issued approximately 16,000 shares of restricted stock with a fair value of $555,000 to members of the Board of Directors as compensation for services to be provided during the next year. The Company records the expenses related to these awards in SGA expenses over the requisite service period.

During the year ended December 31, 2015, the Company issued approximately 297,000 shares of common stock to settle vested restricted stock units whose restrictions were lifted during the year.

During the year ended December 31, 2015, the Company issued approximately 122,000 shares of restricted stock to certain officers and employees in settlement of its 2014 incentive compensation plan liability. The first 50% restriction on these shares was lifted on June 1, 2015 and the remaining 50% restriction will be lifted on June 1, 2016. The Company records the remaining expense related to these awards in SGA expenses over the remaining service period.

Repurchased shares of the Company’s common stock are held as treasury shares until they are reissued or retired. When the Company reissues treasury stock, if the value of the transaction is greater than the average price paid to acquire the shares, an increase in additional paid-in capital is recorded. Conversely, if the value of the transaction is less than the average price paid to acquire the shares, a decrease is recorded to additional paid-in capital to the extent of increases previously recorded for similar transactions, and a decrease is recorded in retained earnings for any remaining amount. During the year ended December 31, 2015, the Company repurchased approximately 800,000 shares of common stock under the share repurchase program. These shares were repurchased at an average cost of $26.58 per share for a total cost of $21.3 million. As of December 31, 2015, the Company has approximately 1.7 million shares of common stock held as treasury shares with an average value of $17.45 per share, and the ability to repurchase an additional $43.9 million in shares of its common stock.